June 25, 2020 / 9:07 PM / 11 days ago

Albertsons prices downsized IPO below target range -source

June 25 (Reuters) - U.S. supermarket operator Albertsons Companies Inc on Thursday sold shares in its initial public offering at $16 apiece, below its $18-$20 per share target range, according to a person familiar with the matter.

Albertsons, majority-owned by private equity firm Cerberus Capital Management LP, also cut the number of shares sold in the IPO to 50 million shares from 65.8 million shares.

Albertsons, which operates namesake stores as well as U.S. supermarket chain Safeway and grocer Von, did not immediately respond to a request for comment. (Reporting by Joshua Franklin in New York; Editing by Leslie Adler)

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